American Fashion Group L Brands Inc. Closes Its Underwear Brand.

On Tuesday, L Brands Inc. of the US fashion group said that due to the spread of the epidemic, it will close its underwear brand Vitoria's Victoria secret Secret (Victoria s Secret), fashion brand Pink and bath brand Bath & Body Works in all retail stores in the United States and Canada until March 29th, due to the spread of the epidemic.

On Thursday, it announced a notice on its website that customers had temporarily shut down their online businesses.

"We have decided to shut down online stores temporarily before March 29th," he said in a notice. Like our previous statement on closing down physical retail outlets, we will pay salaries to the affected employees. If you have unfinished orders during this period, we request your understanding. Our customer service team will send updates on order status in the next few days.

According to Wei, consumers can communicate with customercare.victoriassecret.com or Instagram, Facebook and Twitter.

In addition, L Brands also recovered its first quarter performance forecast (previously expected to be $0.05 per share in the first quarter). Factset expects L Brands's sales in the first quarter to be $2 billion 570 million and a loss of $0.04 per share.

At the end of February, L Brands released its fourth quarter and full year financial results for the 2019 fiscal year. As the fourth quarter was preparing for the sale of related matters, the group's assets were reduced by US $725 million, and its operating profit dropped to US $81 million 700 thousand from last year's US $799 million. Prior to that, L Brands announced that it would sell the controlling stake in the private sector to Sycamore Partners, and the overall valuation of the transaction would be only $1 billion 100 million.

L Brands also said that the group extracted $950 million from the revolving credit arrangement, and currently has more than $2 billion in cash reserves.

Over the past few days, with the spread of the new crown epidemic, dozens of American retailers have closed stores, and many retailers say they will temporarily shift their focus to online sales. However, the decision to close the online business is a warning signal for other retailers. As the epidemic continues to escalate, brand online businesses may also be hit by the disruption of supply chain and warehousing and logistics.